The banking group’s net income guidance for 2024 is currently set at between 56.4 billion and 57.4 billion Mexican pesos.
In addition, Banorte said it changed its long-term common equity (CET) level target – or capital ratio – to a range of 13%-13.5% from 12%-13% previously, citing the current volatile market conditions and the U.S. presidential election.
Banorte shares fell 2.09% at 16:00 GMT on the Mexican stock exchange, amid a volatile market climate and a day after reporting its second-quarter results.
On Tuesday, the company reported an increase of 7.1% year-on-year in its second-quarter net profit, to 14,018 million pesos (about 766.5 million dollars), a result that nevertheless failed to meet the expectations of analysts consulted by LSEG.
